The open source Bochs, VMware Workstation by VMware, Inc. and VirtualPC from Connectix are applications that virtualize or emulate the x86 hardware, allowing you to run multiple operating systems on top of a "host" operating system that these three applications run upon. This means that you will be able to run Linux or FreeBSD or other supported "guest" OSes under Windows, Linux (or Macintosh), inside a window or fullscreen. But which one delivers the best performance for the money? And what about the free Bochs?

Well, I haven't tried windows games. I also don't know DirectX compatible the emulated graphics cards are.
Unlike the article says, VirtualPC does not emulate a s3 Virge. It's indeed a s3 card, but not the Virge. It's some kind of 2D card.
Maybe there are other solutions fitting better for you.
1.) Check http://www.ntcompatible.com/
Maybe you find help there.
2.) The games you mentioned (Final Fantasy VII, Star Wars Pod Racer and Soul Reaver) are also avaiable for PlayStation. Maybe you should give PlayStation emulation a try.
Check http://www.ngemu.com and http://help.psxfanatics.com/
eMail me if you need more help.